Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 19/09/19

It’s a bearish start to the day as investors lock in Wednesday gains… Moves through the late morning will be key
Bob Mason
Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin Cash – ABC – Visits of $330

Bitcoin Cash ABC rose by 2.35% on Wednesday. Following on from a 2.88% gain on Tuesday, Bitcoin Cash ABC ended the day at $324.08.

A mixed start to the day saw Bitcoin Cash ABC rise to a mid-morning high $326.21 before sliding to a mid-day intraday low $317.63.

Bitcoin Cash ABC left the major support and resistance levels untested in spite of the choppy start to the day.

Finding support from the broader market, Bitcoin Cash ABC rallied to an early afternoon intraday high $332.

Bitcoin Cash ABC broke through the first major resistance level at $328.42 before sliding back to sub-$320 levels and into the red.

A final hour recovery delivered the upside on the day.

At the time of writing, Bitcoin Cash ABC was down by 2.02% to $317.54. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $323.45 before falling to a low $317.54.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the day ahead, Bitcoin Cash ABC would need to move through to $324.60 levels to support another bullish day.

A move through to $328 levels would bring the first major resistance level at $331.51 into play.

Barring a broad-based crypto rally, however, the first major resistance level and Wednesday’s high $332 would likely cap any upside.

Failure to move through to $324.60 levels would see Bitcoin Cash ABC struggle on the day.

A fall through the first major support level at $317.14 would likely bring the second major support level at $310.20 into play. Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$310 levels.

Litecoin Hits $80

Litecoin rallied by 4.84% on Wednesday Following on from a 1.91% rise on Tuesday, Litecoin ended the day at $77.75.

A bullish start to the day saw Litecoin rise from an early morning intraday low $74.09 to a mid-morning high $76.78.

Coming up short of the first major resistance level at $77.13, Litecoin slipped back to $74 levels before making a move.

An afternoon rally saw Litecoin surge to a late afternoon intraday high $80.26. Litecoin broke through the first major resistance level at $77.13 to come up against the second major resistance level at $80.14.

Selling pressure late in the day left Litecoin back at $77 levels to limit the upside on the day.

At the time of writing, Litecoin was down by 2.7% to $75.65. A particularly bearish start to the day saw Litecoin slide from an early morning high $77.78 to a low $75.16.

In spite of the early sell-off, Litecoin left the major support and resistance levels untested.

For the day ahead, a move back through to $77.40 levels would signal a run at the first major resistance level at $80.64.

Litecoin would need the support of the broader market, however, to break out from Wednesday’s high $80.26.

Failure to move through to $77.40 levels could see Litecoin spend the day in the red. A fall back through the morning low $75.16 would bring the first major support level at $74.47 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of sub-$74 levels.

Ripple’s XRP Hits $0.32

Ripple’s XRP surged by 9.85% on Wednesday. Following on from a 9.03% rally on Tuesday, Ripple’s XRP ended the day at $0.31428.

A bullish start to the day saw Ripple’s XRP rally from an intraday low $0.28596 to an early morning high $0.31302.

Ripple’s XRP broke through the first major resistance level at $0.3031 before easing back to sub-$0.31 levels.

Finding support from the broader market, Ripple’s XRP rallied to an early afternoon intraday high $0.32732. The 2nd rally saw Ripple’s XRP break back through the first major resistance level and break through the second major resistance level at $0.32010.

A pullback through the afternoon saw Ripple’s XRP fall back to sub-$0.31 levels before finding support late in the day.

At the time of writing, Ripple’s XRP was down by 3.81% to $0.30231. Tracking the broader market, Ripple’s XRP slid from an early morning high $0.31414 to a low $0.29665.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a move back through to $0.3090 levels would support a run at Wednesday’s high $0.32732.

Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.3324.

Barring a broad-based crypto rebound, Ripple’s XRP would likely struggle to break back through to $0.32 levels on the day.

Failure to move through to $0.3090 levels would bring the first major support level at $0.2911 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of Wednesday’s low $0.28596.

Please let us know what you think in the comments below

Thanks, Bob

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